SAP INSIDER SPECIAL REPORT | SOLUTIONS FOR THE CFO
Increase Profit by Enabling
Informed Decision Making
N
Tom Walker
SAP Financial Center
of Excellence
OpenText
ow more than ever, the speed with which corpo-
brings benefits to stakeholders across the company.
rations can make financial decisions has a direct
Let’s take a look at some examples.
impact on bottom-line profits. However, several factors
can hinder the ability to make these kinds of quick yet
Sales Teams: Streamline Sales Orders and
informed business decisions, including:
Collect More Revenue
■■ Limited or no access to the unstructured data that
supports master and transactional data
■■ Stakeholders’ inability to view correct and up-todate information that includes emails, procedures,
and policies
■■ The need for time-consuming manual efforts to
Unfortunately, in today’s more turbulent economy,
companies must keep a close eye on every customer,
even those who have previously always paid in full and
on time. In this kind of environment, applying corporate credit procedures has taken on a whole new level
of importance.
In a typical SAP sales order process, a customer
track down pertinent information
must pass a credit check before order confirmation.
As a result of these obstacles, financial decisions are
OpenText ECM solutions ensure full and immediate
all too often based on limited information from within
access to all information that may affect the credit
data silos. To overcome this and help companies make
decision. Without this information, you run the risk of
more informed financial decisions, companies can turn
providing credit when it should be withheld or deny-
to tools like the enterprise content management (ECM)
ing credit that should be given because you did not
solutions from OpenText.
have accurate client information. In a worst-case sce-
Advantages for All Stakeholders
nario, you could lose the sale due to indecision from a
lack of information.
Financial decisions
are too often based
on limited information from data
silos. To overcome
this, companies
can turn to tools
A significant portion of the information related to SAP
Other critical sales components are dispute manage-
like the enterprise
master data exists in an unstructured format, from
ment and potential sales write-offs. Corporations might
content manage-
a scanned document or email, for instance. Open-
dispute required payment for a variety of reasons, but
ment solutions
Text ECM solutions provide companies with a secure
in any case, the longer it takes to settle a dispute, the
from OpenText.
repository where they can digitize, store, and link
less likely your company is to recover 100% of the
these types of documents to the SAP back-end trans-
billing. While SAP provides a strong dispute manage-
action. This enables immediate, centralized access to
ment system, billing disputes often require numerous
SAP metadata and supporting unstructured informa-
supporting documents, such as sales orders, emails,
tion, while at the same time reducing costs associated
goods receipts, warehouse receipts, freight bills, and
with storing paper documentation and electronic files
more. With ECM solutions, sales personnel can quickly
in a separate system.
create a virtual folder comprised of electronic docu-
In addition, the application’s record management
mentation that can be assembled and routed to the cus-
capabilities ensure that content is deleted when nec-
tomer, increasing the win rate for dispute management.
essary based on corporate policy, which means that
Additionally, in the case of a write-off, the documenta-
decision makers won’t have to waste time searching
tion folder can be used as part of an audit trail.
through older, irrelevant documents. These solutions
also provide a platform for collaborative workflow
Suppliers: Streamline the Procure-to-Pay Process
that gives all decision makers full, up-to-date visibility
Another critical component of a company’s financial
of documentation. This improved information access
endeavors is the acquisition of goods and services.
Reproduced from the Apr n May n Jun 2012 issue of SAPinsider with permission from its publisher, WIS Publishing | sapinsider.wispubs.com
SOLUTIONS FOR THE CFO | SAP INSIDER SPECIAL REPORT
Businesses too often focus only on the procurement
end reduces closing cycle time while full visibility of
aspect of this process. As part of the transition to
payables improves corporate liability accuracy. Days
more informed financial decision making, however,
sales outstanding (DSO) and days payable outstanding
it is essential that corporations consider the entire
(DPO) also become more controllable.
procure-to-pay process.
When all involved
stakeholders
do not have full
To support these kinds of transactional processes,
Auditors: Locate Critical Information to
companies typically maintain a large collection of
Reduce Audit Time and Costs
unstructured data that is related to vendor and mate-
Many financial decisions are scrutinized by both
rial master records. Generally, there is a huge amount
internal and external auditors. Modern audit tech-
of this kind of unstructured documentation, including
niques assess not only the accuracy of the numbers,
pricing based on external, third-party information,
but also the efficiency and control of the process. Yet
contractual changes from email correspondence, bill-
the vast amount of structured and unstructured data,
ings that are dependent on delivery documents, mate-
combined with many SAP transactions, can make the
rials reference formula sheets, and services recorded
audit task difficult and time consuming. Just as virtual
on spreadsheets, just to name a few.
content folders help companies win billing disputes,
Major decisions, including choosing the right ven-
they also assist auditors by helping them quickly
dor, require a full understanding of not only the SAP
locate relevant information.
metadata, but also the unstructured variables like ana-
This significantly reduces the time it takes to per-
lyst reports, due diligence documentation, and refer-
form an audit, thus reducing billable audit hours,
ral letters. ECM solutions provide the ability to image,
and reduces the chance of overlooking critical data.
store, and process this kind of unstructured documen-
Collaborative workflow logs can also streamline the
tation, delivering a full, 360-degree view of informa-
process by eliminating the need for hand-written
access to critical
tion that is always tied back to the SAP transaction
comments and providing a single source for tracking
information, your
for making enterprise decisions that affect the cost of
and record keeping.
enterprise runs the
goods and services.
risk of making only
In addition, SAP and OpenText provide the SAP
Get Informed
partially informed
Invoice Management application by OpenText and
When all involved stakeholders do not have full
financial decisions.
the SAP Travel Receipts Management application by
access to critical information, your enterprise runs the
OpenText to ensure prompt and accurate payment for
risk of making only partially informed financial deci-
goods and services. This increases profit by helping
sions. SAP and OpenText provide the means to replace
companies obtain early payment discounts, boost staff
paper-intensive documentation stores with a compli-
efficiency, eliminate duplicate payments, and decrease
ant, secure digital repository.
fraud opportunities.
Linking archived documents to relevant processes
and master data in your SAP and non-SAP systems,
Investors: Reduce Closing Cycle Time
combined with a platform for comprehensive workflow
When considering financial decisions, corporations
collaboration, creates an environment in which finan-
sometimes overlook the importance of keeping outside
cial decision making is both accurate and timely. In
investors in the know. Variables, such as how quickly
addition, SAP is a reseller of OpenText financial solu-
financial statements are prepared, the accuracy of bal-
tions, so you can rest assured that this software meets
ance sheets, and the management of cash, can greatly
all of SAP’s rigorous testing and quality standards.
affect investors’ decisions. OpenText’s ECM solutions,
For more information on enterprise content man-
combined with SAP’s closing activities functionality,
agement solutions and the functionality and benefits
ensure that all corporate guidelines and procedures are
they provide, visit:
followed by providing all participants with immediate
access to these types of documents.
This means that decision makers can be sure they
are using the most current documents tied to the
transaction. In addition, the ability to immediately
review invoices not yet posted to the financial back
■■ www.ecm4sap.com
■■ http://ecohub.sap.com/catalog/
#!solution:ExtendedECM
■■ www.opentext.com/2/global/products/
products-opentext-ecm-suite-for-sap.htm n
Reproduced from the Apr n May n Jun 2012 issue of SAPinsider with permission from its publisher, WIS Publishing | sapinsider.wispubs.com